- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q4 (20) | -1.23 | 55.6 | 94.06 | -8.33 | 18.17 | 79.04 | 24.38 | 405.9 | 967.62 | 17.93 | 317.86 | 212.7 | 1.69 | 331.51 | 319.48 | 1.01 | 436.67 | 380.56 | 0.05 | 0.0 | 66.67 | 32.28 | 8594.74 | 230.74 | 84.98 | -1.76 | 9.69 | -34.15 | -126.74 | -102.41 | 134.15 | 583.99 | 110.2 | 4.23 | -23.51 | -60.39 |
| 23Q3 (19) | -2.77 | 16.06 | 77.95 | -10.18 | 11.17 | 57.76 | -7.97 | 32.57 | -127.6 | -8.23 | 30.43 | -128.59 | -0.73 | 30.48 | -135.78 | -0.30 | 37.5 | -124.19 | 0.05 | 0.0 | 25.0 | -0.38 | 90.78 | -101.03 | 86.50 | 3.64 | 17.24 | 127.72 | 31.72 | 253.07 | -27.72 | -977.36 | -115.11 | 5.53 | -7.06 | -25.57 |
| 23Q2 (18) | -3.30 | 70.51 | -213.01 | -11.46 | 36.82 | -110.66 | -11.82 | 39.63 | -107.73 | -11.83 | 39.7 | -108.27 | -1.05 | 17.97 | -81.03 | -0.48 | 22.58 | -71.43 | 0.05 | 25.0 | -16.67 | -4.12 | 57.87 | -776.6 | 83.46 | 4.97 | 12.07 | 96.96 | 4.64 | 1.56 | 3.16 | -56.97 | -30.2 | 5.95 | -22.53 | 8.58 |
| 23Q1 (17) | -11.19 | 45.94 | -2251.92 | -18.14 | 54.35 | -165.2 | -19.58 | -596.8 | -340.99 | -19.62 | -23.32 | -335.03 | -1.28 | -66.23 | -212.2 | -0.62 | -72.22 | -226.32 | 0.04 | 33.33 | -20.0 | -9.78 | -200.2 | -1386.84 | 79.51 | 2.63 | 16.21 | 92.66 | -93.45 | -39.82 | 7.34 | 100.56 | 113.6 | 7.68 | -28.09 | 24.47 |
| 22Q4 (16) | -20.70 | -64.81 | -293.1 | -39.74 | -64.9 | -1582.84 | -2.81 | -109.73 | -168.7 | -15.91 | -155.26 | -823.18 | -0.77 | -137.75 | -396.15 | -0.36 | -129.03 | -250.0 | 0.03 | -25.0 | -57.14 | 9.76 | -73.62 | 12.18 | 77.47 | 5.0 | 13.28 | 1415.60 | 1796.63 | 2052.4 | -1315.60 | -817.2 | -3943.2 | 10.68 | 43.74 | 74.51 |
| 22Q3 (15) | -12.56 | -530.14 | -207.08 | -24.10 | -343.01 | -626.2 | 28.88 | 607.56 | 135.37 | 28.79 | 606.87 | 130.5 | 2.04 | 451.72 | 27.5 | 1.24 | 542.86 | 18.1 | 0.04 | -33.33 | -50.0 | 37.00 | 7972.34 | 129.67 | 73.78 | -0.93 | 17.32 | -83.44 | -187.39 | -323.53 | 183.44 | 3953.06 | 192.68 | 7.43 | 35.58 | 11.23 |
| 22Q2 (14) | 2.92 | 461.54 | -85.48 | -5.44 | 20.47 | -140.57 | -5.69 | -28.15 | -130.12 | -5.68 | -25.94 | -134.61 | -0.58 | -41.46 | -127.62 | -0.28 | -47.37 | -119.86 | 0.06 | 20.0 | -25.0 | -0.47 | -161.84 | -102.09 | 74.47 | 8.84 | 30.83 | 95.47 | -37.99 | 34.54 | 4.53 | 108.39 | -84.38 | 5.48 | -11.18 | -15.95 |
| 22Q1 (13) | 0.52 | -95.15 | -96.32 | -6.84 | -355.22 | -203.95 | -4.44 | -208.56 | -154.21 | -4.51 | -305.0 | -156.3 | -0.41 | -257.69 | -148.81 | -0.19 | -179.17 | -131.67 | 0.05 | -28.57 | -28.57 | 0.76 | -91.26 | -93.95 | 68.42 | 0.04 | 34.98 | 153.96 | 134.1 | 91.75 | -53.96 | -257.64 | -376.17 | 6.17 | 0.82 | -17.73 |
| 21Q4 (12) | 10.72 | -8.61 | 46.65 | 2.68 | -41.48 | 150.95 | 4.09 | -66.67 | -70.74 | 2.20 | -82.39 | -84.02 | 0.26 | -83.75 | -70.79 | 0.24 | -77.14 | -63.08 | 0.07 | -12.5 | 75.0 | 8.70 | -46.0 | -58.85 | 68.39 | 8.75 | 42.36 | 65.77 | 76.2 | 274.83 | 34.23 | -45.38 | -75.13 | 6.12 | -8.38 | -37.36 |
| 21Q3 (11) | 11.73 | -41.67 | 267.57 | 4.58 | -65.85 | 122.56 | 12.27 | -35.04 | 207.73 | 12.49 | -23.89 | 208.61 | 1.60 | -23.81 | 366.67 | 1.05 | -25.53 | 383.78 | 0.08 | 0.0 | 100.0 | 16.11 | -28.5 | 642.42 | 62.89 | 10.49 | 30.75 | 37.33 | -47.4 | -79.03 | 62.67 | 116.26 | 180.08 | 6.68 | 2.45 | -40.57 |
| 21Q2 (10) | 20.11 | 42.32 | 385.65 | 13.41 | 103.8 | 184.66 | 18.89 | 130.65 | 721.38 | 16.41 | 104.87 | 44.96 | 2.10 | 150.0 | 218.18 | 1.41 | 135.0 | 176.47 | 0.08 | 14.29 | 100.0 | 22.53 | 79.24 | 441.59 | 56.92 | 12.29 | 36.27 | 70.96 | -11.62 | -86.4 | 28.98 | 48.31 | 106.87 | 6.52 | -13.07 | 0 |
| 21Q1 (9) | 14.13 | 93.3 | 203.87 | 6.58 | 225.1 | 285.35 | 8.19 | -41.42 | 11600.0 | 8.01 | -41.83 | 26600.0 | 0.84 | -5.62 | 0 | 0.60 | -7.69 | 1100.0 | 0.07 | 75.0 | 40.0 | 12.57 | -40.54 | 130.64 | 50.69 | 5.52 | 20.52 | 80.30 | 313.45 | 101.71 | 19.54 | -85.8 | -99.59 | 7.50 | -23.23 | 0 |
| 20Q4 (8) | 7.31 | 204.43 | 446.45 | -5.26 | 74.09 | 61.18 | 13.98 | 222.74 | 6.23 | 13.77 | 219.74 | 17.09 | 0.89 | 248.33 | -1.11 | 0.65 | 275.68 | -4.41 | 0.04 | 0.0 | -20.0 | 21.14 | 811.78 | 0.52 | 48.04 | -0.12 | 10.26 | -37.62 | -121.13 | 63.41 | 137.62 | 275.84 | -32.14 | 9.77 | -13.08 | 0 |
| 20Q3 (7) | -7.00 | 0.57 | -210.24 | -20.30 | -28.16 | -6443.75 | -11.39 | -274.67 | -595.22 | -11.50 | -201.59 | -620.36 | -0.60 | -190.91 | -322.22 | -0.37 | -172.55 | -268.18 | 0.04 | 0.0 | -55.56 | -2.97 | -171.39 | -142.01 | 48.10 | 15.15 | 29.51 | 178.02 | -65.88 | 1217.34 | -78.26 | 81.44 | -190.49 | 11.24 | 0 | 104.36 |
| 20Q2 (6) | -7.04 | -251.4 | -163.71 | -15.84 | -346.2 | -425.26 | -3.04 | -4442.86 | -138.1 | 11.32 | 37633.33 | 46.25 | 0.66 | 0 | -30.53 | 0.51 | 920.0 | -30.14 | 0.04 | -20.0 | -55.56 | 4.16 | -23.67 | -67.55 | 41.77 | -0.69 | 11.21 | 521.77 | 111.1 | 754.99 | -421.77 | -108.79 | -1186.44 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 4.65 | 320.38 | 23.02 | -3.55 | 73.8 | -102.86 | 0.07 | -99.47 | -98.33 | 0.03 | -99.74 | -99.21 | 0.00 | -100.0 | -100.0 | 0.05 | -92.65 | -86.49 | 0.05 | 0.0 | -44.44 | 5.45 | -74.08 | -39.65 | 42.06 | -3.47 | 19.32 | -4700.00 | -4471.7 | -11074.83 | 4800.00 | 2266.79 | 3285.89 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | -2.11 | -133.23 | 0.0 | -13.55 | -4334.38 | 0.0 | 13.16 | 472.17 | 0.0 | 11.76 | 432.13 | 0.0 | 0.90 | 233.33 | 0.0 | 0.68 | 209.09 | 0.0 | 0.05 | -44.44 | 0.0 | 21.03 | 197.45 | 0.0 | 43.57 | 17.31 | 0.0 | -102.81 | -860.77 | 0.0 | 202.81 | 134.5 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 6.35 | -42.53 | 0.0 | 0.32 | -93.43 | 0.0 | 2.30 | -71.18 | 0.0 | 2.21 | -71.45 | 0.0 | 0.27 | -71.58 | 0.0 | 0.22 | -69.86 | 0.0 | 0.09 | 0.0 | 0.0 | 7.07 | -44.85 | 0.0 | 37.14 | -1.12 | 0.0 | 13.51 | -77.86 | 0.0 | 86.49 | 122.78 | 0.0 | 5.50 | -4.68 | 0.0 |
| 19Q2 (2) | 11.05 | 192.33 | 0.0 | 4.87 | 378.29 | 0.0 | 7.98 | 90.91 | 0.0 | 7.74 | 103.68 | 0.0 | 0.95 | 106.52 | 0.0 | 0.73 | 97.3 | 0.0 | 0.09 | 0.0 | 0.0 | 12.82 | 41.97 | 0.0 | 37.56 | 6.55 | 0.0 | 61.03 | 245.1 | 0.0 | 38.82 | -72.62 | 0.0 | 5.77 | -0.52 | 0.0 |
| 19Q1 (1) | 3.78 | 0.0 | 0.0 | -1.75 | 0.0 | 0.0 | 4.18 | 0.0 | 0.0 | 3.80 | 0.0 | 0.0 | 0.46 | 0.0 | 0.0 | 0.37 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 9.03 | 0.0 | 0.0 | 35.25 | 0.0 | 0.0 | -42.06 | 0.0 | 0.0 | 141.76 | 0.0 | 0.0 | 5.80 | 0.0 | 0.0 |
| 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | -4.12 | 0 | -11.55 | 0 | 5.41 | 4.96 | -2.22 | 0 | -4.09 | 0 | -1.37 | 0 | -0.36 | 0 | 0.18 | 0.0 | 5.92 | -40.2 | 84.98 | 9.69 | 521.54 | 0 | -421.54 | 0 | 0.12 | -5.79 | 5.70 | -17.75 |
| 2022 (9) | -4.93 | 0 | -15.37 | 0 | 5.15 | 63.13 | 2.89 | -73.8 | 0.82 | -91.73 | 0.26 | -94.36 | 0.41 | -86.86 | 0.18 | -37.93 | 9.90 | -34.61 | 77.47 | 13.28 | -531.95 | 0 | 631.95 | 1561.49 | 0.13 | 1.96 | 6.93 | 4.05 |
| 2021 (8) | 14.18 | 6345.45 | 6.83 | 0 | 3.16 | -43.2 | 11.03 | 1769.49 | 9.91 | 158.07 | 4.61 | 370.41 | 3.12 | 267.06 | 0.29 | 70.59 | 15.14 | 102.41 | 68.39 | 42.36 | 61.96 | 0 | 38.04 | -97.94 | 0.13 | -16.08 | 6.66 | -25.67 |
| 2020 (7) | 0.22 | -95.99 | -10.31 | 0 | 5.56 | 14.83 | 0.59 | -90.62 | 3.84 | -34.36 | 0.98 | -62.02 | 0.85 | -57.07 | 0.17 | -46.88 | 7.48 | -35.74 | 48.04 | 10.26 | -1743.27 | 0 | 1843.27 | 1411.45 | 0.15 | -17.4 | 8.96 | 43.36 |
| 2019 (6) | 5.49 | -59.15 | -1.38 | 0 | 4.84 | 36.64 | 6.29 | -48.23 | 5.85 | -47.39 | 2.58 | -60.91 | 1.98 | -60.95 | 0.32 | -28.89 | 11.64 | -27.02 | 43.57 | 30.02 | -21.95 | 0 | 121.95 | 256.04 | 0.18 | -12.45 | 6.25 | 9.46 |
| 2018 (5) | 13.44 | -16.57 | 7.99 | -25.67 | 3.55 | -4.23 | 12.15 | -35.68 | 11.12 | -39.1 | 6.60 | -38.43 | 5.07 | -35.82 | 0.45 | 7.14 | 15.95 | -31.31 | 33.51 | 9.83 | 65.75 | 15.53 | 34.25 | -20.51 | 0.21 | 612.81 | 5.71 | 1.6 |
| 2017 (4) | 16.11 | 0 | 10.75 | 0 | 3.70 | -46.35 | 18.89 | 0 | 18.26 | 0 | 10.72 | 0 | 7.90 | 0 | 0.42 | 27.27 | 23.22 | 2996.0 | 30.51 | -38.65 | 56.91 | -26.41 | 43.09 | 90.07 | 0.03 | 0 | 5.62 | 3.5 |
| 2016 (3) | -0.35 | 0 | -5.50 | 0 | 6.90 | 3.48 | -7.11 | 0 | -7.40 | 0 | -3.60 | 0 | -2.22 | 0 | 0.33 | -2.94 | 0.75 | -90.61 | 49.73 | 17.73 | 77.33 | 0 | 22.67 | -98.34 | 0.00 | 0 | 5.43 | 6.68 |
| 2015 (2) | -1.69 | 0 | -6.86 | 0 | 6.67 | 7.41 | 0.54 | -49.06 | 0.32 | -64.04 | 0.16 | -70.91 | 0.31 | -36.73 | 0.34 | -24.44 | 7.99 | 5.97 | 42.24 | -6.01 | -1263.38 | 0 | 1363.38 | 90.45 | 0.00 | 0 | 5.09 | 30.51 |
| 2014 (1) | -2.29 | 0 | -6.54 | 0 | 6.21 | 13.31 | 1.06 | 0 | 0.89 | 0 | 0.55 | 0 | 0.49 | 0 | 0.45 | -13.46 | 7.54 | -63.4 | 44.94 | 33.31 | -616.15 | 0 | 715.86 | 435.11 | 0.00 | 0 | 3.90 | 7.73 |
